Natural Gas and Oil Forecast: Will NFP Data Fuel WTI's Breakout to $120?

WTI crude has risen above $112 as geopolitical tensions in the Strait of Hormuz threaten roughly 20% of global oil supply, creating a bullish shock to oil markets. The upcoming US NFP report is flagged as a catalyst that could push prices toward the $119.30 technical target, increasing short-term volatility and upside risk for energy sectors and commodity-linked assets.

Analysis

WTI crude has risen above $112 as geopolitical tensions in the Strait of Hormuz threaten roughly 20% of global oil supply, creating a bullish shock to oil markets. The upcoming US NFP report is flagged as a catalyst that could push prices toward the $119.30 technical target, increasing short-term volatility and upside risk for energy sectors and commodity-linked assets.